Blockchain.com Gets More Funding In The Latest Round Led By Kingsway Capital

In a round-headed by UK-based investment company Kingsway Funding, Blockchain.com secured an unknown sum of additional capital.

While the firm did not disclose the precise amount, Blockchain.com stated that the transaction occurred in the early third quarter and included Baillie Gifford and Lightspeed Venture Partners as investors, as reported by Bloomberg.

The company’s CEO and co-founder, Peter Smith, stated in a blog post, noting recent regulatory permits to operate in Singapore, Italy, Dubai, and the Cayman Islands:

“Our strategic financing comes in a moment of continued momentum for Blockchain.com.”

According to Smith, Manny Stotz, the founder of Kingsway Capital, has become a valued advisor to the company’s senior team.

Blockchain.com was valued at $14 billion in a Series D fundraising round spearheaded by Lightspeed Venture Partners earlier this year.

The cryptocurrency corporation offers various services, including trading, lending, and custody. It just received Singapore’s authorization to provide payment services. It is also one of the oldest crypto exchanges, founded in 2011.

The business had considerable exposure to Three Arrows Capital, having lent $270 million to the hedge fund before to its demise.

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